So, I’ve either sent you this email[not important to read this email, likely to just slow you down. This email was confusing and I’m sorry for sending such hard to follow instructions.]
Or you didn’t get this email. Whatever, this email was not very straightforward. If I wasn’t able to follow my own instructions to get it working, noone could. The reason for this post is I went to my friends house, who got this email, and tried to set him up and failed. You probably need to read this whole thing, but if you don’t want the background understanding, you can skip to Step One.
My computer is pumping 290 KHashes right now, and I’m likely to see an entire LTC before Thanksgiving Break is over, just for leaving my computer on all the time. I have 4 people, who have a total of 7 computers, who have expessed interest in joining me. In order to cash out without a fee, I have to win(see game analogy further into post) 5 whole ltc[otherwise there is a 0.02LTC fee to cash out early]. So, With just me I’ll be able to cash out with this about twice a month. If we get 7 computers running 24/7 we can get these LTC a lot more often, perhaps 14 times a month? What if you guys’ computers are faster than my 3-year-old PC, albeit a custom-built gaming PC? When multiple people are in on this, we just split the 5LTC based on the amount of shares earned by each involved computer. I have the API key for the account — and people can get credit for work they’ve done. API,– is a whole different post. But getting credit for your work simply requires you to comment on this blog post. Let’s get this installed.. I will have a PHP script that calculates your contribution as a percentage of total running machines. When you first start you will use a juliusakula.guest username. And within a week we will have you set up with a personalized username and you’ll be getting credit. This post is all about getting it up and running.
I’m going to be taking a multitude of screenshots for this post, to help be crystal-clear. This is what my computer looks like when I run the software that mines. When I move the mouse, there is probably more than a second delay from me moving the mouse to the cursor moving. Normally my computer does this mundane task of moving the mouse in zero seconds flat, but when we talk about the software you will understand why it will lag.
Noteworthy in this screenshot:bottom right showing the KHash/S, and shares accepted in bottom left.
Lets talk about shares accepted for a moment before talking about installing the software, because shares accepted is exciting! For most people talking about shares accepted is more exciting than hearing about kilo-hashes per second. Some screenshots of our pool’s dashboard;
For now lets talk about paid shares/unpaid shares and the pool. There is a payout to this, and the first screenshot was the program that plays a game. What this is, is having your GPU(Graphical Processing Unit-found in your video card) play a game a hundred thousand billion times a second. A Kilohash per second is already more than I can imagine, much like the concept of a million or a billion dollars. That’s like, finding the cube root of 3 different 100 digit numbers per second. So yeah, it’ll make your computer lag. But here’s the thing! you win shares kind-of often, depending on your graphics card. My graphics card, (Seen above in the screenshot doing 275Kh/s for the pool) is a AMD Radeon HD 7770. I had to set my computer to ‘Never Sleep'(guide for that here: http://www.hallco.org/elearning/setting-your-computer-to-never-sleep/), and it awarded me 0.083 LTC overnight. Was getting 1000 shares every two hours. How does it award LTC you might ask? How is this garunteed?
the Catch: is that we are mining an altcoin to transfer it to Bitcoin. If our altcoin LTC becomes a fad that has worn out, our winnings of 0.15 LTC in 24 hours aren’t that impressive. And on top of that, Electricity isn’t free. There are calculators on the internet to see if your hardware will turn a profit, or if even buying new hardware would turn a profit, but you can look that up if you really think you’ll notice a rise in the electricity bill. Other things… If bitcoin drops a lot in value, our altcoin may or may not have a future. Currently, I’m trying to hoard as much bitcoin as i possibly can before it goes to the moo000OOOOooOOOoo00oon.
Some math on my night of leaving my computer on all night playing this game____:
0.083 LTC * current rate of ltc/btc 0.083 * 0.034 = 0.002822 BTC. 7 hours?
And all I did was leave my computer on at night. In the day, I had been waking up my computer and making sure the program was running, but probably only had it doing the game for 5 or 6 hours; this yeilded 0.07-some-other-decimal-places LTC(… 0.07LTC * 0.034LTC/BTC = 0.00238BTC. Add this to the 0.002822 BTC and i have a little over 0.005BTC, or 500,000 satoshi, depending on how you look at it. [One satoshi, smallest unit a bitcoin can be divided into. The Atom is to Gold, as Satoshi is to BTC – https://en.bitcoin.it/wiki/Satoshi_Nakamoto#Influence] ). This has been about an hour of writing & taking screenshots, who knows how long this takes to read. Lets check back in on my computer, which is still pumping 275KHash/s.
Above Screenshot showing .15 LTC taken at 1:25pm. Currently 2:56 PM;
… We are still talking about shares, believe it or not. So this screenshot shows I have 6193 Paid Shares. An hour ago I had 5477 Paid shares. So look at the first picture. I have 566 Unpaid shares as of that picture. When the computer plays the game it gets shares when it completes the game, like ‘thanks for trying’. Everyone that tries to win rolls and increases the Round Shares. When someone plays and wins, the amount won is split between the number of shares. If I have 100 shares and someone wins on the 1,000,000th share, ill get 100/1,000,000 of the prize money! So no matter how many times you play, as long as ANYONE wins, you are going to win for every time you tried. It’s beautiful.
If you already decided you are doing this and don’t need more convincing, skip the next two paragraphs.
I don’t pay for electricity — and I can make the claim that I leave my computer on all the time anyway– so I can’t lose money doing this. I’ve decided it’s worth it. Listening to my fans run on my computer all night is OKAY, knowing it is dropping pennies in my piggy bank every so often. I have to hear my computer at night time, but I’ll be getting $60/month in BITCOIN. Thats not bad considering my friends are telling me to ” let them know when it goes down to $1000 again so they can invest “.. If i just hoard my bitcoin instead of cashing out often, the eventual cash-out will be greater. My favorite quote from a reddit post[http://www.reddit.com/r/Bitcoin – great source for news about bitcoin] is: “Saying $1000 is too much for one bitcoin is like saying $40,000,000 is too much for a metric tonne of gold.” Another interesting take on bitcoin in general is this guy, who found out he had 1240.2 Bitcoin from 2010.. Let’s get some background on the world around this person, and when I heard about this, because it provides some validation. You’d think, you find that much and you cash it out instantly! you’ve made more than 5,000% ROI, cash out!!! But no.
Bitcoinmonger! I saw his website when bitcoin was hitting $700. I was like man, He almost has a million dollars and his website says he doesnt want to cash out for a “loong time”. Then, I calculated that when bitcoin reached $813 he would officially have $1,000,000 when he decides to cash it out. When I heard this story I became intent on having bitcoin before they reach a higher price, Since this guy was clearly, like, smart. This guy is either confident that he will have $100,000,000, or would actually be okay with losing it all. I adopted the same attitude For two reasons: One, [http://bitcoinmonger.tumblr.com/ – Another long-winded post. Stay Hydrated]. And Two, The market cap of bitcoin is past $10billion now. But realistically that is nothing. GDP of the US alone(I say alone because bitcoin is international, as a percentage of world GDP bitcoin is still not mainstream [Funny-https://twitter.com/Cropcho/status/322750377365745664]) 14Trillion / 10Billionn = 0.7% of US GDP spent with bitcoin, if all bitcoin were in the US.
The media frenzy over this has obviously had some effect on the price, only because more people actually own bitcoin. How many people own bitcoin? See live purchases and sells of bitcoin here: [https://www.bitstamp.net/market/order_book/] <– Left column is people buying them, right column is people cashing out. I don’t think its a bad thing that there are roughly 100,000 daily transactions in bitcoin [https://coinbase.com/charts], or that there are 3 (those two links plus: [https://www.mtgox.com/]), three major marketplaces to exchange dollars/other currencies to bitcoin. Anyway, I’m not here to talk about why bitcoin is good or whatever. Media frenzy isn’t causing a “bubble” is what this paragraph was about; Back to
Okay. So we want to get free bitcoin, RIGHT?
Allright. So let’s install this mining software on another computer. You can probably imagine it is easier to set up for the main miner than it is for an outside source. I got my computer to run the stuff at my house but couldn’t at my friends house. So now, I am on my girlfriends computer. Going to install the software and take many screenshots on how to do this on your own computer. Follow these instructions carefully.
Step one. System Information. This is Windows 7. Should be similar on other windows Operating Systems… Can’t speak for mac — and if linux comes naturally to you then you can do it on linux or mac os just the same, just with different install steps. If you are adventurous enough to try and do litecoin mining on linux, or mac OS you can still be a part of this mining pool – just skip to step 5, where I talk about usernames and passwords.
Step one. go to Control Panel, -> System & Security, ->System.
Step one. Get a pencil or start making notes in google docs or evernote. Note whether you have a 64-bit or 32-bit version of Windows. Write down the Number NEXT TO the name of your processor. In the above screenshot it is 4.20Ghz. Also Note Installed Memory(RAM). On this computer there’s 8.00GB A
Step one. See where the cursor is in the above screenshot? Click Device Manager. When device manager opens, click Display Adapters. Write down the name of your graphics card. This is a AMD Radeon HD 6700 Series.
Okay, I think That’s enough system information. Be sure you’ve written this down, because you will have more things to write down, and you will need to comment everything you’ve written down, in the area where you can comment on this blog post. When you comment it requires you give your email before you can post, but no one else can see your email. You must do this so that I can contact you directly to give you the username and password, as well as the link to the page that shows how much % you are contributing, so you can see you are getting credit and will get X % of the 5LTC when we cash out.
We have this system information now, I hope you have an AMD graphics card. If you don’t have an AMD graphics card, you’ll need to do extra research on Nvidia SDK drivers in leui of this step.
Step two. Drivers and SDK Drivers. You need the most recent AMD Drivers[http://support.amd.com/en-us/download]. Here’s a screenshot of me getting the correct driver.
When I clicked display results I was taken to a page where there are several versions of AMD Catalyst Software Suite are available. I clicked the word Download on the very fist one, version 13.9, because the second one said version 13.10 Beta… Go with the most recent stable version.(first one.)
Step two, install the driver you just downloaded then restart your computer. [ yes, next, english/next, install, express, next, accept, wait..; Don’t worry if the screen flickers- this is updating your graphics drivers; Finish, Reboot.]
Step two, download and install this driver: [http://developer.amd.com/amd-license-agreement/?f=AMD-APP-SDK-v2.8-Windows-64.exe] OR [http://developer.amd.com/tools-and-sdks/heterogeneous-computing/amd-accelerated-parallel-processing-app-sdk/]… I accept, wait for it to download(about 180MB file…). When done downloading double click and run it, allow windows administrator/ click yes, then a dialogue like this pops up:
click unzip. English/next, Express/next, accept, finish. Reboot Again.
Step three. We need the software now. Before I say, Here it is: , you need to disable your anti-virus. Skip this paragraph if you agree to turn off antivirus or if you have no antivirus. Niether my original computer nor this computer has any antivirus bullSHIT. Seriously- I know why I couldn’t install it at my friends house. This program is going to take up a lot of CPU and GPU power, and anti-virus views this as a threat. But when I went to task manager on his computer, the mining software was taking up almost no % of the cpu, but there were 3 instances of Norton working. He tried to end task on all three, only to find out that he couldnt end task on any of them except one. The two that remained each were using 46% or more of his CPU. This blew my mind- how can his gaming computer always be 90% full just by running antivirus.. Turn off or uninstall your antivirus unless you want to figure out the workaround. If you can add an exception in the antivirus for guiminer.exe that would be fine – but you’re going to want your computer to only be running guiminer so that it can give you the most shares/hour. Besides, your computer will lag too much to do anything on facebook or anything really, so just exit out of everything else. So, antivirus disabled or worked around, lets move on to the program and getting it working!
Step 4,for mac or linux… [find the guiminer-scrypt LTC miner- there’s some research to be done there and I would appreciate anyone who would enlighten us in the comments about how to do this on non-windows machines]
Here it is, windows version: [https://mega.co.nz/#!dwUyzAiR!OdP072EOKc5i3r7xSlLdNhvyF4IZB97zEw-8EFC-vZ8] Okay so this .zip file is downloaded. Let’s Extract to somewhere convienient(i.e. NOT your downloads folder) Zip files kindof suck for windows if you don’t have WinRAR or 7zip or something to unzip it. With my expired-trial-version of winRAR, I couldn’t actually click the extract button successfully, so I selected everything and drag and dropped them to C:/Program Files/GUIMiner. See Screenshot.
Notice I don’t select the top folder called “…” . Select Everything else and put it into a folder of your choice. I created a GUIMiner folder under program files. Now, after those files are in this folder, double click guiminer.exe. So let’s recap step 4- Downloaded the .zip, put it into a nice folder, and double clicked guiminer.exe
Step 5, Enter credentials. Here are 3 guest accounts:
Use these for now, and when they work I can create one with your name, like juliusakula.jenni and a password that I will email you after you comment your system information.
Okay, heres a screenshot of guiminer.exe running from an second computer. Hopefully, you were able to replicate each of these steps and you a few short minutes and one step away from doing it!
Enter stratum2.wemineltc.com for host
change port to 3335, pick a guest account and password, select GPU- usually the one with a name that doesn’t sound like a proccessor. You could technically select the CPU here, but it’ll be slower.
Now select your graphics card from the bottom right and the rest of the required fields will be filled in. I happen to know that this graphics card is a 6770, but you are unlikely to know the 67×0 digit. Just pick the 6970 if you only know you have a 6900 series, its a safe bet. Or do some more research to find out what you really have.
Now click start and wait! If it starts showing KHash/S you should throw your hands in the air like you just don’t care. If it succeeds, click file-> save settings. If it gives you an error the feeling of defeat will be immediate, and strong. Following exactly these steps, I WAS ABLE TO GET THIS WORKING FROM ANOTHER COMPUTER BESIDES MY OWN.
Took me about a minute after pushing the start button for it to accept the first share, from this outside source.
Step 6 is to comment your system information from step 1, and be sure to use the email you want me to contact you at. use your real name somewhere so i can make you a personalized username. Comment HERE [http://www.juliusakula.com/so-you-want-to-mine-ltc/].
Thank you! Your Welcome! Thank you!